If you are very technically savvy, you can purchase a video capture card, a DVD burner, some video editing software and some DVD mastering software. Having set up your new video rig, you would capture the contents of the VHS in realtime, make any necessary editorial changes, and master the video for DVD.
If you are something less than a serious technophile the best method is probably to purchase a VHS to DVD recorder, a standalone unit which makes creating a DVD as easy as pressing the record button.